SC: Claim Can Be Denied for Hiding Existing Policies
You already have a life insurance policy (A). You buy another life insurance plan (B) without disclosing to them that you are already covered under plan A. In one of…
Critical Analysis of the Business Performance of Life Insurers in India (2023-24)
Overview [caption id="attachment_27461" align="alignleft" width="300"] Critical Analysis of Life Insurers [/caption] The Indian life insurance industry demonstrated steady growth in premium income, reflecting resilience and adaptability amidst evolving market conditions. Total…
ROLE OF SURVEYOR IN CONTROLING WILD RISK – MUD AND DEBRIS FLOW
INTRODUCTION:- Risk Minimization and control on Mud Flow and Debris Flow are the need of the hours since the insurance claims are increasing and Insurance Companies are not in position…
Rural Resilience: Bharat sees surge in insurance adoption
Awareness about the benefits of insurance cover appears to be growing in rural India. A recently released survey by the National Bank for Agriculture and Rural Development (Nabard) on financial…
Medi Assist Targets Expansion in India’s TPA Market with Strategic Acquisitions
Medi Assist, a leading player in India’s Third Party Administrator (TPA) sector, is gearing up for significant growth as it consolidates its position in the fragmented market through strategic acquisitions.…
SURVEYORS – NOT YOUR SAVIOURS
Surveyors, Loss assessors and Claim adjusters have distinct functions. Clubbing these three categories of functions into one group serviced by the same person/s will not only be prejudicial but also…
Submission of Crop Insurance Data
This has reference to the Authority's letter ref No IRDAI/NL/Anl/Crop Ins./2/2016-17 dt 09.02.2017. Keeping in view the importance of Crop Insurance and related Schemes introduced by the Government, the existing…
Ombudsman Declares Claim Beyond Jurisdiction for Public Limited Company
Ahmedabad Ombudsman Centre Case No. NIA / 1 / 166 Mr. Dhiren C. Shah Vs. The New India Assurance Co. Ltd. There were four Claims under 4 different Policies. Out…
INVESTIGATING FIRE INSURANCE FRAUD CASES !
"Because I could" carried an image "Oh ! I too, should have" Of late numerous incidents of fraudulent fire claims have been reported and many insurers all over the world…
Insurance claims relating to landslides in Wayanad, Kerala
1. The landslides in Wayanad, Kerala (July, 2024) are reported to have caused widespread loss to human lives, property (homes and businesses) and infrastructure. 2. All Insurance Companies are advised…